Question: Pls. solve the below question correctly, all the answer available on the Chegg are wrong. If you don't know the answer pass it to expert
Pls. solve the below question correctly, all the answer available on the Chegg are wrong.
If you don't know the answer pass it to expert who know how to solve it, If get the wrong answer I will downvote and add it in comment section.
The Adeeva's gross monthly income is $4200. They have 18 remaining payments of $210 on a new car. They are applying for a 20-year, $103,000 mortgage at 7.0%.The taxes and insurance on the house are $340 per month. The bank will only approve a loan that has a total monthly mortgage payment ofprincipal, interest, property taxes, and homeowners' insurance that is less than or equal to 28% of their adjusted monthly income.
a) Determine 28% of the Adeeva's adjusted monthly income.(Round to the nearest cent.)
b) Determine the Adeeva's total monthly mortgage payement,including principal,interest,taxes, and homeowners insurance.
c) Do they qualify for this mortgage?
d) Find the total monthly mortgage payment of principal, interest, property taxes ?
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